China, the new make-up eldorado!
Several countries from Asia and South East Asia will be the focus of debates at the next MakeUp in Asia in Seoul. Indonesia, Australia and of course China! The Chinese make-up market is booming with – according to a recent study published by Business France using figures from Euromonitor –, growth rates of about 10%. Four conferences will help better understand how is developing the make-up industry in this huge country.
Four conferences that will be hosted successively by Sharon Kwek, Senior Innovation & Insights analyst, Beauty & Personal Care at Mintel, Louis Houdart, CEO of Creative Capital, Deng Ming, General Manager of Ping Guan Media and Caroline Moulin, CEO of NAO Design Trend.
According to a study by Business France on the Chinese Beauty sector and referring to figures from Euromonitor, “Revenues in the cosmetics market have jumped from CNY 200 m in 1982 to CNY 182.5 bn in 2014 (about 27 bn euros). And as for the number of consumers, official statistics show that the Chinese cosmetics market, estimated at 100 million consumers in 2010 should reach 200 million by the end of 2015 and 400 million by 2020. While lipsticks sales were dominating the make-up market with 51.8% market share in 2010, today sales dedicated face make-up products are dominating the sector with 47% market share. Generally, Chinese women consider that make-up enhances self-esteem and helps them be more assertive. Indeed, make-up gives Chinese women the possibility make the best of themselves without having to spend too much money. An Ipsos survey highlighted that 37% of women consumers used make-up three or four times a week. On average, Chinese women start using make-up at the age of 21, lipstick being the first make-up product used by 60% of them.”
Spotlight on China!
On the theme “Spotlight on Colour Cosmetics Trends in China,” Sharon Kwek Mintel will highlight the colour cosmetics trends that are actively playing out in China, she will discuss what the beauty landscape has in store and will identify the underlying opportunities for product innovations as the market continues to advance.
She will also give an in-depth overview on the colour cosmetics category that includes, but is not limited to, China’s market sizing within the beauty sector, the country’s current new product innovation landscape, and the opportunities as well as the spaces to fill for beauty brands looking to gain or grow market share. She will also provide insights on current consumer trends and behaviours, from make-up frequency to brands preferences and categories to watch in this space. To round things up, she will finally share key takeaways identified by her team from the topic and also their analysis on the future of the colour cosmetics category in China.
East meets west!
Louis Houdart, CEO of Creative Capital, will focus on the theme centred on the concept of “East meets west!” An aesthetic journey through three branding perspectives behind different oriental brand identity approaches. During this visual odyssey he will travel from Europe to Asia to observe and analyze the way brands have been expressing themselves. This trip will begin in Paris, he will make a stopover in China, to look at the way Chinese brands are communicating about themselves and finish his voyage in Seoul. This presentation objective is more to bring options and a new way at looking at brands and design with a cultural twist, rather than giving a unique solution.
The new challenges!
Caroline Moulin from NAO Design Trend, will review the new challenges of makeup China… The make-up market of is keeping up its momentum in China with unprecedented growth in a context of economic slowdown. Still under the influence of Korea and Japan, it could become a leading market in the coming years. L’Oréal, who will celebrate this year its 20 years of presence in China, dreams “of putting a lipstick tube in the hands of every Chinese woman.” While alongside prestigious Western groups and major Korean leaders, Chinese market leaders structured and positioned themselves to meet the needs of Chinese women. These brands made the choice of being as close as possible to consumers, not only in big cities, but also and most of all in the many “medium” size cities, imagining Chinese Beauty for a new generation become bolder and bolder! What are the recipes to conquer the Chinese consumer? An opportunity to look back on basic trends: the role of the retail experience vs. digital strategy, personalisation, the importance of products innovation, the statement of leading products, the Snapchat and even traveller marketing.
A growth rate higher than other industries
Finally Ms. Deng Min, General Manager of Ping Guan Media, will address the main consumer trends in the Chinese Beauty market. A three part presentation:
The first, in the form of a Chinese cosmetic market overview.
The growth rate of the Chinese Cosmetic Market is higher than other industries. The Market becomes more Challenging with Chinese native brands arising.
The second part will explain why Korean Cosmetic products are arising in China (Amore Pacific and LG Healthcare in China, among many other Korean brands)…Why are Korean cosmetics so popular with Chinese consumers.
Third part: What are the market’s opportunities and challenges? (Positive Policies: tariff reduction. Consumption tax reduction and other Policy supports). The after 00’s generation (Millenials) has become a main customer force and they love Korean Cosmetics. How can they be perfectly integrated in Chinese distribution channels?
Ms. Deng Min graduated from Hubei University with the Master degree on the major of World History. She focuses on studying in the area about the development and revolution on China’s cosmetic field and also devotes herself into improving the international communication within the cosmetic field with her nearly 10 years work experience on the cosmetic media field.
Her works “The Revolution of Cosmetics Terminal Sale in China” has been re-published for 13 times on Dangdang.com and it is also a best seller at the Xinhua Bookstore. It is the 1st time a professional book becomes a best seller in mainland China.
Ms. Deng Min is also the founder and executive of China’s high top cosmetic forum and she organized the ‘China Cosmetic Summit & China Cosmetic Development Forum’ which is the most influential Forum in China.